Crude oil futures dip on weak spot demand

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NEW DELHI: Crude oil costs on Thursday fell Rs 4 to Rs 5,091 per barrel after members minimize their positions.

On the Multi Commodity Alternate, crude oil for the September supply dropped by Rs 4, or 0.08 per cent, to Rs 5,091 per barrel with a enterprise quantity of 5,142 heaps.

Analysts stated the autumn in crude oil futures was largely resulting from trimming of positions by merchants amid a weak spot demand.

Globally, West Texas Intermediate crude oil was buying and selling 0.35 per cent decrease at USD 69.06 per barrel.

In the meantime, Brent crude, the worldwide benchmark, fell 0.17 per cent to commerce at USD 72.46 per barrel in New York.

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